Need forecasting 20x4 and 20x5 for the entire balance sheet and income statement.

S INCOME STATEMENT (in thousands of $s) For the years ended Assumptions Actual 20x1 Actual 20x2 Actual 20x3 Forecast 20x4 Forecast 20x5 Net revenues Cost of Goods Sold Gross profit Sales Growth % of Sales 6.40% 42.30% Please enter all expenses as positive #s. 8,816,213 3.725,529 5,090,684 9,551,415 4.088,731 5,462,683 9,883,078 4,168,000 5,715,078 Same for Taxes. 19.80% A negative number for an expense would indicate a credit 8.10% 11.70% Selling, general & administration expense Research & development expense Advertising expenses Amortization of intangibles Goodwill impairment expense Restructuring expense Other operating expense (income) Operating earnings (EBIT) % of Sales % growth % of Sales see Additional Assumptions see Additional Assumptions Fixed 1,756,906 747,580 1,178,867 26,536 1,887,005 726,623 1,057,284 30,208 166,787 2,039,037 866,232 1,282,797 28,130 128,638 6,187 34,225 1,329,831 7,500 Fixed 34,000 31,568 5,464 29,499 1,717,832 1,191,209 Please enter all expenses as positive #ts. 215,793 207,044 % of avg Debt for the year % of avg Cash for the year % of Sales Fixed 4,653 Interest expense Interest income Foreign exchange losses (gains) Other income (expense), net Earning before taxes (EBT) 6.30% 0.70% 0.27% 12,500 Same for Taxes. 220,491 4,105 22,991 14,256 966,089 4,397 24,064 12,987 1,495,359 27,058 12,501 A negative number for an expense would indicate a credit. 1,112,883 Tax Rate 28.80% Income taxes Net Income (Loss) 230,272 735.817 346,084 1.149.274 255,091 857.792 Common stock dividends declared % growth 5.40% 504,546 538,081 579,536 BALANCE SHEET (in thousands of $s) Actual 20x1 Actual 20x2 Actual 20x3 Forecast 20x4 Forecast 20x5 ASSETS Cash & cash equivalents Accounts receivable, net Inventories Prepaid expenses Other current assets Total current assets Assumptions plug, min. % of Sales % of Sales % COGS % of Sales % growth 7.50% 19.70% 25.70% 8.20% 6.80% 670,032 1,794,152 894,865 733,156 507,613 4,599,818 725,908 1,958,594 1,017,971 767,017 544299 5,013,788 751,114 1,829,121 953,830 924,819 580 148 5,039,032 Property, plant & equipment, net Goodwill Other intangibles, net Investments in unconsolidated affiliates Other fixed assets see Additional Assumptions see Additional Assumptions see Additional Assumptions Fixed % of Sales 1,332,340 983,169 254,589 429,030 700,281 1,382,981 950,210 239,009 498,446 699,221 1,412,850 868,208 216,525 506,641 858,849 520,000 8.30% Total assets 8.299.226 8.783.655 8.902.105 250,000 LIABILITIES Short-term borrowings Commercial paper Current portion of long-term debt Accounts payable Accrued liabilities Total current liabilities plug fixed see Additional Assumptions % of COGS % of Sales 430,852 254,160 138,000 371,029 954 135 2,148,176 246,917 258,480 285,300 346,066 1.045.364 2,182,127 428,112 260,400 218,600 413,612 1,105,798 2,426,521 8.80% 11.25% Long-term debt Other liabilities Total liabilities see Additional Assumptions Fixed 286,646 2,855,507 264.574 5,268,257 2,755,507 286,646 5,224,280 2,505,507 286.646 5,218,674 EQUITY Common stock at par Fixed 278,207 Additional paid-in capital prior year + SEO (see Add. Assump.) Retained earnings Accumulated other comprehensive earnings (los prior year + Other (see Add. Assump.) Treasury stock, at cost prior year + Stock Repur. (see Add. Assump. Total shareholders' equity 278,207 1,221,821 2,651,496 -240,894 879,661 3,030,969 278,207 1,282,912 3,262,690 -233,486 1,030.948 3,559,375 278,207 1,297,025 3,540,946 -231,728 1,201,018 3,683,431 Total Liabilities and Equity 8.299.226 8.783.655 8.902.105 Actual 20x1 Actual 20x2 Actual 20x3 Forecast 20x4 Additional Assumptions Forecast 20x5 Formulas needed for these items. Add. Assump. PP&E Assumptions Capital Expenditures Depreciation Sales of PP&E (book value) % of Sales % of prior year PP&E net Fixed 3.75% 21.25% 3,400 } 3,400 3,400 Goodwill Addition to Goodwill from current year acquisiti: Fixed Reduction in Goodwill from current year divestit Fixed Goodwill impairment expense 10-K 18,800 12,000 23,500 23,500 15,500 0 Other intangibles, net Amortization of other intangibles New Other intangible assets Sales of Other intangibles (book value) 10-K Fixed Fixed 33,200 20,500 14,500 36,700 22,000 0 10-K Long-Term Debt Assumptions Current portion of long-term debt Issuance of new long-term debt Early repayment of long-term debt 350,000 250,000 150,000 250,000 0 0 Common Equity Assumptions Seasoned Equity Offerings (SEO) Stock Repurchases Based on prior year Other (e.g., Stock-based compensation, other gai Based on prior year 0 118,352 -15,684 0 118,352 -15,684 These items are required. Useful in balancing Balancing Trial Assets, excluding Asset plug (Cash) Mininum Cash Total Trial Assets Trial Liabilities & Equity, excluding Liab. Plug (Short-term borrowings) Plug for balancing Notes Note 1: Interest bearing debt includes Short-term borrowings, Commercial paper, Current portion of long-term debt, and Long-term debt. SENSITIVITY ANALYSIS How do the financing needs, as measured by Short-Term Borrowings, vary with Sales Growth & COGS Percentage? S INCOME STATEMENT (in thousands of $s) For the years ended Assumptions Actual 20x1 Actual 20x2 Actual 20x3 Forecast 20x4 Forecast 20x5 Net revenues Cost of Goods Sold Gross profit Sales Growth % of Sales 6.40% 42.30% Please enter all expenses as positive #s. 8,816,213 3.725,529 5,090,684 9,551,415 4.088,731 5,462,683 9,883,078 4,168,000 5,715,078 Same for Taxes. 19.80% A negative number for an expense would indicate a credit 8.10% 11.70% Selling, general & administration expense Research & development expense Advertising expenses Amortization of intangibles Goodwill impairment expense Restructuring expense Other operating expense (income) Operating earnings (EBIT) % of Sales % growth % of Sales see Additional Assumptions see Additional Assumptions Fixed 1,756,906 747,580 1,178,867 26,536 1,887,005 726,623 1,057,284 30,208 166,787 2,039,037 866,232 1,282,797 28,130 128,638 6,187 34,225 1,329,831 7,500 Fixed 34,000 31,568 5,464 29,499 1,717,832 1,191,209 Please enter all expenses as positive #ts. 215,793 207,044 % of avg Debt for the year % of avg Cash for the year % of Sales Fixed 4,653 Interest expense Interest income Foreign exchange losses (gains) Other income (expense), net Earning before taxes (EBT) 6.30% 0.70% 0.27% 12,500 Same for Taxes. 220,491 4,105 22,991 14,256 966,089 4,397 24,064 12,987 1,495,359 27,058 12,501 A negative number for an expense would indicate a credit. 1,112,883 Tax Rate 28.80% Income taxes Net Income (Loss) 230,272 735.817 346,084 1.149.274 255,091 857.792 Common stock dividends declared % growth 5.40% 504,546 538,081 579,536 BALANCE SHEET (in thousands of $s) Actual 20x1 Actual 20x2 Actual 20x3 Forecast 20x4 Forecast 20x5 ASSETS Cash & cash equivalents Accounts receivable, net Inventories Prepaid expenses Other current assets Total current assets Assumptions plug, min. % of Sales % of Sales % COGS % of Sales % growth 7.50% 19.70% 25.70% 8.20% 6.80% 670,032 1,794,152 894,865 733,156 507,613 4,599,818 725,908 1,958,594 1,017,971 767,017 544299 5,013,788 751,114 1,829,121 953,830 924,819 580 148 5,039,032 Property, plant & equipment, net Goodwill Other intangibles, net Investments in unconsolidated affiliates Other fixed assets see Additional Assumptions see Additional Assumptions see Additional Assumptions Fixed % of Sales 1,332,340 983,169 254,589 429,030 700,281 1,382,981 950,210 239,009 498,446 699,221 1,412,850 868,208 216,525 506,641 858,849 520,000 8.30% Total assets 8.299.226 8.783.655 8.902.105 250,000 LIABILITIES Short-term borrowings Commercial paper Current portion of long-term debt Accounts payable Accrued liabilities Total current liabilities plug fixed see Additional Assumptions % of COGS % of Sales 430,852 254,160 138,000 371,029 954 135 2,148,176 246,917 258,480 285,300 346,066 1.045.364 2,182,127 428,112 260,400 218,600 413,612 1,105,798 2,426,521 8.80% 11.25% Long-term debt Other liabilities Total liabilities see Additional Assumptions Fixed 286,646 2,855,507 264.574 5,268,257 2,755,507 286,646 5,224,280 2,505,507 286.646 5,218,674 EQUITY Common stock at par Fixed 278,207 Additional paid-in capital prior year + SEO (see Add. Assump.) Retained earnings Accumulated other comprehensive earnings (los prior year + Other (see Add. Assump.) Treasury stock, at cost prior year + Stock Repur. (see Add. Assump. Total shareholders' equity 278,207 1,221,821 2,651,496 -240,894 879,661 3,030,969 278,207 1,282,912 3,262,690 -233,486 1,030.948 3,559,375 278,207 1,297,025 3,540,946 -231,728 1,201,018 3,683,431 Total Liabilities and Equity 8.299.226 8.783.655 8.902.105 Actual 20x1 Actual 20x2 Actual 20x3 Forecast 20x4 Additional Assumptions Forecast 20x5 Formulas needed for these items. Add. Assump. PP&E Assumptions Capital Expenditures Depreciation Sales of PP&E (book value) % of Sales % of prior year PP&E net Fixed 3.75% 21.25% 3,400 } 3,400 3,400 Goodwill Addition to Goodwill from current year acquisiti: Fixed Reduction in Goodwill from current year divestit Fixed Goodwill impairment expense 10-K 18,800 12,000 23,500 23,500 15,500 0 Other intangibles, net Amortization of other intangibles New Other intangible assets Sales of Other intangibles (book value) 10-K Fixed Fixed 33,200 20,500 14,500 36,700 22,000 0 10-K Long-Term Debt Assumptions Current portion of long-term debt Issuance of new long-term debt Early repayment of long-term debt 350,000 250,000 150,000 250,000 0 0 Common Equity Assumptions Seasoned Equity Offerings (SEO) Stock Repurchases Based on prior year Other (e.g., Stock-based compensation, other gai Based on prior year 0 118,352 -15,684 0 118,352 -15,684 These items are required. Useful in balancing Balancing Trial Assets, excluding Asset plug (Cash) Mininum Cash Total Trial Assets Trial Liabilities & Equity, excluding Liab. Plug (Short-term borrowings) Plug for balancing Notes Note 1: Interest bearing debt includes Short-term borrowings, Commercial paper, Current portion of long-term debt, and Long-term debt. SENSITIVITY ANALYSIS How do the financing needs, as measured by Short-Term Borrowings, vary with Sales Growth & COGS Percentage